lombard asset finance Alternatives

This guide lists five UK focused alternatives to lombard asset finance, so buyers can compare speed, eligibility, products, and pricing before applying.

Quick Compare:

1. Aldermore

Aldermore is a UK bank specialising in business finance solutions such as asset finance, invoice finance, and loans for SMEs. They offer flexible options with quick approval processes and collateral security for various asset classes. Their products are suitable for those seeking faster funding or comparing different panels.

Loan and pricing details

• Min amount: Unknown
• Max amount: Unknown
• APR min: Unknown
• APR max: Unknown
• Loan durations: Varies by product

Funding range note: Unknown

Speed: Typically 1 to 3 days

Interest rate notes: Rates are competitive and based on business risk profile

Eligibility

• Min trading months: 12
• Min monthly turnover: £10,000
• Credit flexibility: Flexible based on business profile

Personal guarantee: Personal guarantees may be required depending on the loan type

Homeowner advantage: Being a homeowner could enhance approval chances

Services and sectors

• Products: asset_finance, invoice_finance, business_loans
• Industries: General businesses, SMEs

Best for

• SMEs
• Businesses needing flexible finance solutions

Pros

• Flexible terms
• Competitive rates

Cons

• May require personal guarantee
• Eligibility criteria apply

Sources: https://www.aldermore.co.uk/business-finance/

2. Close Brothers Asset Finance

Close Brothers Asset Finance provides leasing and hire purchase options tailored to UK SMEs, facilitating access to assets and capital for growth. They focus on flexible asset finance with quick decision-making and security options. Their products suit businesses seeking asset purchase or refinance solutions.

Loan and pricing details

• Min amount: £5,000
• Max amount: £5,000,000
• APR min: Unknown
• APR max: Unknown
• Loan durations: Up to 7 years

Funding range note: From £5,000 to £5,000,000 typically

Speed: Fast decisions, usually within a week

Interest rate notes: Interest rates determined by the asset value and business risk profile

Eligibility

• Min trading months: Unknown
• Min monthly turnover: Unknown
• Credit flexibility: Case-by-case basis

Personal guarantee: Often required for SMEs

Homeowner advantage: Homeowners may have better funding terms

Services and sectors

• Products: leasing, hire_purchase, refinancing
• Industries: Manufacturing, Transportation

Best for

• Businesses needing asset purchase
• Firms seeking flexible leasing options

Pros

• Wide range of asset-based solutions
• Flexible terms for SMEs

Cons

• Requires asset security
• Potential need for personal guarantee

Sources: https://www.closeassetfinance.co.uk/s/

3. BNP Paribas Commercial Finance

BNP Paribas Commercial Finance offers a range of financing solutions such as invoice and asset-based lending geared towards growing UK businesses. They provide flexible options with decision times often short. Their services are aimed at businesses seeking asset or invoice finance with moderate to high financing needs.

Loan and pricing details

• Min amount: £50,000
• Max amount: £10,000,000
• APR min: Unknown
• APR max: Unknown
• Loan durations: Flexible based on agreement

Funding range note: From £50,000 to £10,000,000 typically

Speed: Decisions typically in a few days

Interest rate notes: Rates are variable, based on asset and risk profile

Eligibility

• Min trading months: Unknown
• Min monthly turnover: £25,000
• Credit flexibility: Flexible based on turnover and asset value

Personal guarantee: Personal guarantees may be required

Homeowner advantage: No specific advantage

Services and sectors

• Products: invoice_finance, asset_based_lending
• Industries: Large corporates, Export firms

Best for

• Large enterprises
• Businesses in need of invoice finance

Pros

• Strong international presence
• Flexible financing

Cons

• May require personal guarantees
• Focus on larger businesses

Sources: https://commercialfinance.bnpparibas.co.uk/en

4. Investec

Investec provides bespoke financing solutions including corporate lending, asset-based loans, and growth capital. They focus on flexible terms suited for UK businesses seeking growth or working capital. Their approach includes tailored solutions with quick decisions and collateral security options.

Loan and pricing details

• Min amount: Unknown
• Max amount: Unknown
• APR min: Unknown
• APR max: Unknown
• Loan durations: Custom durations based on agreement

Funding range note: Tailored financing dependent on business needs

Speed: Timely approvals, case-dependent

Interest rate notes: Rates customised per financial solution

Eligibility

• Min trading months: 24
• Min monthly turnover: £50,000
• Credit flexibility: Custom solutions based on business profile

Personal guarantee: Personal guarantees depend on the loan complexity

Homeowner advantage: Potentially beneficial depending on the deal structure

Services and sectors

• Products: corporate_lending, asset_finance, growth_capital
• Industries: Corporate, Growth companies

Best for

• Businesses seeking bespoke solutions
• Firms needing growth capital

Pros

• Custom financial solutions
• Comprehensive suite of products

Cons

• Complex application process
• Higher requirements for eligibility

Sources: https://www.investec.com/en_gb/business/popular-solutions/business-lending-services.html

5. ABN Amro

ABN Amro offers bespoke commercial finance solutions such as factoring, invoice discounting, and asset-based lending to support UK business growth. They cater to companies needing flexible financing options with fast processing and custom security structures. Their services suit those seeking tailored funding solutions with a focus on asset-backed finance.

Loan and pricing details

• Min amount: £100,000
• Max amount: Unknown
• APR min: Unknown
• APR max: Unknown
• Loan durations: Varied based on contract

Funding range note: From £100,000, scaleable with business needs

Speed: Efficient processing of applications

Interest rate notes: Structured according to the asset and business risk

Eligibility

• Min trading months: Unknown
• Min monthly turnover: £100,000
• Credit flexibility: Depends on assets and business turnover

Personal guarantee: Often part of the deal especially for unsecured parts

Homeowner advantage: No specific advantage related

Services and sectors

• Products: factoring, invoice_discounting, asset_based_lending
• Industries: SMEs, Corporate sectors

Best for

• Businesses seeking invoice discounting
• Companies needing asset-backed financing

Pros

• Strong European banking network
• Expertise in asset-based financing

Cons

• Higher minimum requirements
• Limited flexibility in some products

Sources: https://www.abnamrocomfin.com/gbr/en/home

Final notes

When comparing providers, match loan size, timeline, and sector fit first, then confirm current rates and fees with the finance provider. If one option declines your application, a broker or multi lender panel may still place the deal. Funding Agent offers access to multiple lending options to find the best fit.